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Anova Corp officially changes name

Anova Corp officially changes name

Friday, June 25, 2021, 17:04 GMT+7
Anova Corp officially changes name
Veterinary medicine is developed at Anova Corp, now Nova Consumer Group.

During the 2021 annual general meeting on Friday morning, Anova Corporation – a member of NovaGroup – decided to change its name and launch an official public offering, or IPO.

Steady development in difficult times

In 2020, the livestock industry went through many challenges brought about by the African swine fever epidemic, a surge in farming costs in the poultry and catfish sectors, as well as the COVID-19 pandemic.

Despite such obstacles, Anova has managed to achieve positive results in its business operations, with revenue reaching VND3.1 trillion (US$134.7 million) in 2020, a representative said at the meeting.

The corporation’s after-tax profit was VND178 billion ($7.7 million), while the total consolidated assets stood at VND3.8 trillion ($165.1 million), including an equity of VND2 trillion ($86.9 million).

In the field of veterinary medicine, Anova is one of the leading enterprises in the industry with a market share of 35 percent in the country and has been honored with the High Quality Vietnamese Goods title for many consecutive years.

The corporation has also exported its products to more than 26 markets, including developed countries such as South Korea, the UAE, Malaysia, and Thailand, contributing to increasing the reputation of Vietnamese veterinary medicine products.

Anova is also a strategic shareholder of Navetco – a Vietnamese enterprise that has completed the research of a vaccine against African swine fever – and Vetvaco – another unit specializing in vaccine production in the agricultural sector.

Anova’s annual general meeting of shareholders is organized virtually on June 25, 2021.
Anova’s annual general meeting is organized virtually on June 25, 2021.

Entering the consumer goods market

At the meeting, Anova’s board of directors presented the 2021 business plan and changes to the content of its business registration.

Delegates agreed to change its name to Nova Consumer Group Joint Stock Company (Nova Consumer Group), whose orientation is to tap into additional consumer goods industries.

Nova Consumer Group (NCG) will seek investment opportunities in the food sector to complete the closed food supply chain from farm to fork, in order to improve the group's business efficiency and create value for investors.

NCG will still focus on core business activities in the agricultural sector, and strive to increasing sales volume by over 50 percent in the veterinary medicine segment.

Regarding the livestock industry, NCG’s goal in 2021 is to add at least two large-scale pig farms and a system of chicken farms with nearly one million chickens in the southern region.

At the conference, shareholders of the company also approved the IPO scheme, expecting the firm to be listed on the Ho Chi Minh City Stock Exchange in the near future.

This is a strong and timely transformation of NCG to become one of the three main pillars of NovaGroup, aside from Novaland Group and Nova Service Group.

Anova Corp (currently Nova Consumer Group) was established in 1992, originating from Thanh Nhon Trading Company Limited.

Together with nine member companies, Nova Consumer Group has gradually completed a closed agricultural production chain as well as provided seeds, vaccines, veterinary medicine, animal feed, and technical support for modern animal husbandry.

From 2021, the group began participating in the production and trade of consumer goods.

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